only real issue with other choices is compatibility, especially when it comes to coolant..
I always use the universal coolants..
We had to use them at my job, in a mixed fleet, because there was no way to keep up on all the different stuff.
. I never saw anything occur
that would make me think one color coolant was any better than the other.
Engineers pick the stuff for whatever reason they choose.
as far as power steering goes, honestly if the system is bone dry or their is no compatibility problem just about any type of oil ( 5w30, 10w30, ATF etc) will function in there even though they specify certain blends.